Market Size of USA Automotive Smart Keys Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 18.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Automotive Smart Keys Market Analysis
The United States automotive smart keys market is expected to register a CAGR of over 18%, during the forecast period (2020 - 2025).
- Smart Keys were a critical feature in luxury vehicles but now they are even becoming the part of entry-level cars. With the change in vehicle owner expectations for their vehicles to perform tasks that would involve a minor physical or mental effort on their part, the remote 'key' has become a mainstay of the vehicle model design. The driver is not required to insert a metal key into the tumbler.
- Smart Key requires pressing a button on a wireless transmitter to perform this arduous chore of locking or unlocking the vehicle doors. In addition, push-button ignition switches have also become common, eliminating the requirement to rotate the mechanical key in an ignition switch cylinder.
- A critical driver of the market in smart key systems is the convenience that the smart key provides. The keys need not be kept in the hand to enjoy the features, and people enjoy the fact that the keys can be kept in the pocket or bag without requiring to reach around before getting into the vehicle
